Insider Buying: Smart Global Holdings Inc (NASDAQ:SGH) Insider Purchases $537,187.91 in Stock

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Smart Global Holdings Inc (NASDAQ:SGH) insider Stephen C. Dow acquired 17,059 shares of the stock in a transaction on Wednesday, July 17th. The stock was acquired at an average cost of $31.49 per share, for a total transaction of $537,187.91. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Shares of NASDAQ:SGH opened at $27.93 on Friday. The business’s 50 day simple moving average is $29.27 and its 200-day simple moving average is $24.23. The firm has a market capitalization of $647.89 million, a price-to-earnings ratio of 4.66, a price-to-earnings-growth ratio of 0.64 and a beta of 1.24. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.24 and a quick ratio of 1.66. Smart Global Holdings Inc has a 12 month low of $16.94 and a 12 month high of $35.10.

Smart Global (NASDAQ:SGH) last announced its quarterly earnings results on Thursday, June 27th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The firm had revenue of $235.70 million for the quarter, compared to analysts’ expectations of $264.98 million. Smart Global had a return on equity of 40.99% and a net margin of 5.77%. Smart Global’s revenue was down 29.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. On average, equities analysts anticipate that Smart Global Holdings Inc will post 2.92 earnings per share for the current year.

SGH has been the topic of a number of analyst reports. Deutsche Bank lifted their price objective on Smart Global from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Barclays lifted their price objective on Smart Global from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. TheStreet raised Smart Global from a “d+” rating to a “c” rating in a report on Monday, July 29th. Zacks Investment Research lowered Smart Global from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Roth Capital lifted their price objective on Smart Global from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $38.33.

Large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Smart Global during the 1st quarter worth approximately $47,000. Meadow Creek Investment Management LLC boosted its stake in shares of Smart Global by 45.6% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 2,400 shares of the company’s stock worth $55,000 after acquiring an additional 752 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Smart Global by 45.6% during the 2nd quarter. Neuburgh Advisers LLC now owns 3,300 shares of the company’s stock worth $76,000 after acquiring an additional 1,034 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Smart Global during the 1st quarter worth approximately $83,000. Finally, Aperio Group LLC purchased a new stake in shares of Smart Global during the 2nd quarter worth approximately $93,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Smart Global Company Profile

SMART Global Holdings, Inc designs, manufactures, and supplies specialty memory solutions worldwide. The company offers dynamic random access memory (DRAM) components, which are used to manufacture modules and other products; DRAM modules for desktop, notebook, and server applications, as well as for use in smartphones; and specialty DRAM modules for industrial, communications, and networking applications, as well as develops specialized memory module designs based on original equipment manufacturer (OEM) requirements.

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